Iraq is
pumping crude at a record level and will continue to boost exports this year
amid a global market glut that has pushed prices down.
“The
average for Iraqi crude output is 4 million barrels a day, which is a
historical record,” said Iraqi Oil Minister Adel Abu Mahdi at a news conference
on Sunday after meeting his Turkish counterpart, Taner Yildiz, in Baghdad.
Iraq also
plans to boost crude exports to 3.3 million barrels a day this year, including
oil exports from Kurdistan. Today, Iraq and Turkey agreed to boost Iraqi crude
exports from the north via Turkish port of Ceyhan to 375,000 barrels a day in
the coming months, and to as much as 600,000 barrels a day by April, the Iraqi
oil minister said. Iraq exported 2.94 million barrels daily in December 2014,
the most ever for the country.
File photo: Getty Images
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